71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 4022
 
                           B-Engrossed
 
                         Senate Bill 948
                   Ordered by the House May 24
  Including Senate Amendments dated May 2 and House Amendments
                              dated
                             May 24
 
Sponsored by Senator HANNON (at the request of Michael Burrill,
  Medford, OR)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
 
  Requires Department of Environmental Quality to establish
community emission reduction credit bank if requested by county
commissioners. { +  Applies to emission reductions occurring on
or after January 1, 2000. + }
 
                        A BILL FOR AN ACT
Relating to development incentives.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) The Department of Environmental Quality
shall establish a community emission reduction credit bank upon
written request to the department by the appropriate board or
boards of county commissioners.
  (2) The community emission reduction credit bank shall be
governed by rules adopted by the Environmental Quality
Commission.  The validity of emission reduction credits shall be
determined by rule. The rules shall include, but need not be
limited to, the following:
  (a) Valid emission reduction credits created or banked within
two years from the time of actual emission reduction may be
transferred to the community bank for up to 10 years. The 10-year
period shall begin at the time of actual emission reduction.
  (b) The department shall transfer valid emission reduction
credits to the community bank upon written application from the
holder of the credits.
  (c) The department may not discount credits banked under this
section during any 10-year period unless the commission finds it
necessary to discount the credits to attain or maintain air
quality standards.
  (3) The community emission reduction credit bank shall be
administered by the appropriate board or boards of county
commissioners, in coordination with the department. + }
  SECTION 2.  { + Section 1 of this 2001 Act applies to emission
reductions occurring on or after January 1, 2000. + }
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